1. Amazon deal flop: New York governor called ’embarrassment’ in flood of hate mail The three-term Democratic governor’s office was sent roughly 1,500 messages, via email and through the mail after Amazon unexpectedly pulled out of its multi-billion deal with New York to build a facility in the Long…
1. Paytm gets $1 billion top-up in the latest financing round Paytm said it had raised $1 bn in a financing round led by T Rowe Price with Ant and SoftBank also participating. Paytm had last raised $300 million from Warren Buffett’s Berkshire Hathaway in September 2018, valuing the…
1. Chinese VCs bring what money can’t buy for startups Chinese investors are connecting portfolio firms to other investors from the world’s second-largest economy, making introductions across the board, from manufacturers, design firms, supply chain experts, and exploring go-to-market strategies across geographies. China’s VC firms have been exploring the…
1. Jeff Bezos to visit India in January may meet PM Modi The Amazon chief is likely to make a case for a stable business climate and policy continuity, highlight the point that co-creates jobs and empowers small businesses. The world’s largest online retailer is said to be worried…
1. From Oyo to Uber, how SoftBank’s $100 billion has left the startup ecosystem weaker Flush with cash, entrepreneurs operated with scant regard for profit. The whole system eventually overheated. Protests against SoftBank-funded startups have erupted in New York, Bogotá, Mumbai and beyond, with many captured on video and…
1. Paytm plans to invest Rs 500 crore in tech startups The company said it expects to employ technology across the growing internet to become the dominant player in AI. The company typically invests Rs 200-250 crore every year in intellectual properties or companies building complementary technologies such as…
1. Bull run for private technology funding market coming to an end: Softbank’s Deep Nishar Nishar said the debacle at WeWork, which SoftBank bailed out with a $9.5 billion cash injection, was an extreme case of dissonance between private, and what would have been its public market valuation. SoftBank…
1. Paytm Mall’s loses contract 35% in FY19, revenue up 25% While Paytm’s e-commerce unit was able to show a marked reduction in losses in FY19 while still growing revenue, the Softbank-backed company lags larger industry rivals- Flipkart and Amazon in terms of earnings. While e-commerce in the country…
1. Walmart CEO writes to PM, seeks a stable business environment The letter comes in wake of Flipkart and rival Amazon facing probes over alleged roles in predatory pricing. McMillon had met PM Modi in New York on September 25 during the PM’s visit to the US. Source: ET 2….
1. Paytm to cut losses by 33% to $400 million: Vijay Shekhar Sharma Paytm has completely cut incentives on P2P UPI transactions after seeing a group of customers conduct millions of transactions of Rs 21 between its network and other rival players. The firm expects GMV, which does not…